I first noticed this when I was playing through "The Beacon," the last area. I looked up on the cliffside while walking along the beach, and was surprised to see what looked like a person looking down!

I thought perhaps I was mistaken about it being a ghost/person and that it was just another standing stone, however, when I arrived at the location along the path, there was no stone to be found...

After loading up the second area, "The Bouy"[sic], I then noticed this:

This one actually moved. When I first noticed it, it was running along the path where the arrow is, then stopped at the location I took the screenshot.

After standing there by the boat a few moments, I noticed something. The opacity of the "ghost" changes depending on where you were focusing your camera. The arrows show the distance from the edge of the camera.

I outlined it in this picture on the right because it's very, very faint.

Where else in the game can I find these "ghosts"? I'm looking for a full list of potential locations in one answer, please, not one-answer-per-location.

This game looks potentially awesome. I am a big believer in the paranormal and this looks interesting.
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Emerica.Feb 16 '12 at 15:46

@Emerica. To be honest, this isn't super-representative of the actual gameplay itself. It's more of an interactive fiction type thing. It is heavy on atmosphere, but it's not as oppressive/scary as something like Penumbra/Amnesia.
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FAEFeb 16 '12 at 22:07

I've never played a game that acctually scared me, besides System Shock 2 when I was a wee lad. But yeah, I read its not so much a game as an interactive story. I'll also have to look into those other two titles you speak of.
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Emerica.Feb 17 '12 at 13:15

Awesome! I played through the game two-and-a-half times and never noticed any ghosts. This game keeps on amazing me!
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Boris CallensFeb 20 '12 at 21:48

4 Answers
4

The wikia lists 10 and has screencaptures of the locations, this thread corroborates all 10 of them, and this thread has the same 10, so assembled, this is all 10 that are reported to have been found:

Lighthouse Chapter

In the very beginning of the chapter, when the player approaches the window closest to the doorway, a flash of a figure goes past the the window from the inside. It is difficult to notice, and seems to correlate to the ringing sound the player can hear when looking in the window.

At the start of the journey go up the hill instead of following the beach. Then pass the first caved in path by walking on the ridge. Theres a small cave on top where the narrator will start talking about the hermit's cave. If the player looks into the cave, they should see a faint figure holding a flashing light, before it quickly disappears. This may or may not be morse code signalling the word "DAMASCUS". It's very hard to see apparently.

Buoy Chapter

Upon approaching the shipwreck, a figure can be faintly seen moving along the cliff pathway to the left of the wreck. It will then be seen standing at the end of this cliff pathway, though only when not directly looked at.

To the back of this bothy, behind it, there is a cave in the distance. If the player walks a little bit forward toward, looking into the unaccessable cave across the canyon, there is a figure holding a light that floats deeper into the cave and disappears.

Cave Chapter

Before entering the dream that occurs after plunging into water, there is a ghost that can be seen walking behind a waterfall.Very hard to see.

The player can walk along the beach, with cliffs and rocks to the right, and the water to the left. There are candles scattered along the way. There is one candle that has water underneath it near the area with the paper boats, and in this water puddle there is a ghostly reflection that can be one of three figures. It can be a hooded figure, a person with a deformed face/skull, or a transparent man or woman.

At the end of the game, when reaching the tower, there is a ghostly figure standing in the corner of the fenced in area. It also may be one of the same three figures as the reflection ghost in #9.

A lot of them are very faint and hard to see, as the centre of the screen comes closer to some of them, they will often vanish and as the player approaches them, they will vanish as well. Since it's hard to say for certain that there are no more, I can't honestly guarantee that this list is complete, but it is fairly thorough and these are all the reported ones to date. An excellent video walkthrough of all 10 of them can be seen here (number 10 in the video is the other perspective of the #8 that I listed).

Yeah these two and the one at the very end stood behind the fence as you walk up towards the tower/aerial are the only ones I saw. There is also one in the very start in the first building if you look up in the furthest right room.

Welcome to Gaming! This may theoretically answer the question, but it would be preferable to include the essential parts of the answer here, and provide the link for reference.
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Ashley Nunn♦Feb 17 '12 at 14:41